HUDSON REALTY GROUP’S

MONTHLY REAL ESTATE UPDATE

MAY 2014 EDITION

YOUR SOURCE FOR HOBOKEN AND JERSEY CITY REAL ESTATE

HALSTEAD PROPERTY VIRTUAL STAGER

Halstead Property is proud to offer the 21st Century alternative to traditional staging with our new innovative marketing tool named Virtual Stager. This allows you to now promote a vacant and unfurnished home in a fully furnished capacity through the use of 3D rendering technology. We are now able to take a photograph of an empty room and fill it with your choice of furniture and décor for a realistically furnished look.

MORTGAGE RATES

BANKRATE.COM: NATIONAL MORTGAGE RATES
Rates: 4.33% (30-yr fixed) | 0.35 (avg points)

“Mortgage rates fell again this week, hitting a six-month low as investors reacted to weak economic news in the U.S. and to reports that the European Central Bank may ease monetary policy. The 30-year fixed-rate mortgage fell 4 basis points to 4.33 percent. A basis point is one-hundredth of 1 percent. The 15-year fixed-rate mortgage fell 3 basis points to 3.42 percent. The average rate for a 30-year jumbo mortgage fell 4 basis points to 4.35 percent.”…

HUDSON REALTY GROUP LISTINGS

SEARCH MLS LISTINGS

612 GARDEN STREET, HOBOKEN

- Developed and Designed by Hudson Realty Group
– No Expense Spared, Complete Gut Renovation
– Single Family Townhome w/ 5 Beds, 5.5 Baths
– 3850 SF of Living Space Over 4 Levels
– Two-Tiered Garden with Bluestone Patio
– Custom Cabinetry in
Kitchen & Bathrooms

– Thermador Professional Appliance Package
– Waterworks, Toto, Hans Grohe & Kohler Fixtures

– Tile: Ann Sacks, Waterworks & Walker Zanger

– Oversize Marvin Windows and Doors Throughout

– Wired for Distributed Audio with SONOS System

– 3.75 kW Photovoltaic Solar Panel System
– Whole House Natural Gas Back-Up Generator
– 4 Skylights, Video Entry and Intercom System

– 2 Gas Fireplaces Surrounded by Built-in Cabinetry

– Asking: $3,000,000

1021 WILLOW AVENUE, HOBOKEN
OPEN HOUSE 5/18 SUNDAY FROM 1-4PM

– Magnifent Gut Renovation & Full Extension
– 4440 SF Over 4 Floors

– Lot Size: 20 X 100
– Modernized with Turn of the Century Details

– 5 Beds, 3.5 Baths, Garden w/ Bluestone Patio
– Expansive Chef’s Eat-In-Kitchen
– Enormous Master Bedroom and Bath
– Historic Curbed Staircase and Bannister
– Central Vac System, 10-Zone SONOS System
– Internal and External Video Surveillance System
– Asking: $2,495,000

722 ADAMS STREET 8, HOBOKEN

– Top Floor Duplex Condo with Garage Parking
– 1013 SF, 2 Beds, 2 Baths, Private Roof-Deck
– Renovated Kitchen with a Breakfast Bar
– W/D in the Unit, Bleached Oak Hardwood Floors
– Asking: $550,000

1500 GARDEN STREET 9H, HOBOKEN

– Harborside Lofts, Luxury Waterfront Building
– Incredible Space and Light, 702 SF Studio Loft
– 13′ Ceilings, Dramatic Oversized Windows, W/D
– Top of the Line Finishes, Wide-Plank HWF
– 24 Hour Concierge, Gym, Pool, Roofdeck
– Asking: $499,000

1241 GARDEN STREET, HOBOKEN
(UNDER CONTRACT)


– Expansive 4-Story Brownstone on 18 X 100 Lot
– 3150 SF, 4 Bedrooms, 2 Full Bath, 1 Half Bath
– Restored Brownstone Facade, Painted Cornice
– Chef’s Kitchen, Sun-Filled Breakfast Nook
– Original Staircase w/ a Mahogany Bannister
– Asking: $1,950,000

1133 GARDEN STREET, HOBOKEN
(UNDER CONTRACT)

– Single Family Brick Townhome, 15 X 100 Lot
– 3-Story, Turn Key Ready, 3 Beds, 2 Baths Home
– Includes Period Details w/ Modern Renovations
– Oversized Entry Doors, Wide Plank Pine Floors
– Original Staircase w/ Bannister & Rear Garden
– Asking: $1,500,000

1100 ADAMS STREET 615, HOBOKEN
(UNDER CONTRACT)

– Upper Grand, Concrete Elevator Building
– 1148 SF Penthouse Home
– 2 Bedrooms, 2 Baths, Terrace & Parking
– Open Floor Plan, Oversized Chef’s Kitchen
– Recessed Lighting, Washer/Dryer, C/AC
– Gym, & Common Courtyard
– Asking: $700,000

452 2ND STREET 7, HOBOKEN
(UNDER CONTRACT)

– Top Floor South Facing Home
– 2 Beds, 2 Baths, 1342 SF, Private Roof-Deck

– Open Floor Plan, Lofted Ceiling, Crown Molding
– Renovated Kitchen with a Breakfast Bar
– 1 Parking Space w/ Extra Stroage Cage in Garage
– Asking: $699,900

108 MONROE STREET 2A, HOBOKEN
(UNDER CONTRACT)

– 1224 SF, 2 Bed, 2 Bath in Elevator Building
– Open Floor Plan, Bay Window
– Master Bedroom with Dual Closets
– Washer/Dryer and Extra Large Parking Space

– Asking: $674,900

66 MADISON STREET 2, HOBOKEN
(UNDER CONTRACT)

– True 3 Bedroom Condo with a Desirable Layout
– 1336 SF, 3 Bed, 2 Bath Condo with Parking
– Separate Living Room with Bay Window
– Renovated Kitchen, Expansive Dining Area
– Central HVAC, Crown Molding, Washer/ Dryer
– Asking: $650,000

4 MAGNOLIA AVENUE, JERSEY CITY
(UNDER CONTRACT)

– Jersey City’s HillTop Neighborhood
– 3-Story Historic Brick Townhouse
– 16.67 X 67 Lot
– 3 Beds, 2 Baths, 550 SF Basement
– 3 Original Fireplace Mantles, Historic Staircase
– Views of NYC & One World Trade Center
– Asking: $499,500

650 MONTGOMERY ST 303, JERSEY CITY
(UNDER CONTRACT)

– m650 Flats: Award Winning Development
– Modern Design, 1025SF, 1BD/1BA Condo Loft
– Italian Kitchen Cabinets, Ceasarstone Counters

– Exposed Brick, Bamboo HW Floors, C/AC, W/D
– Virtual DM, Common Rooftop Terrace & Garage
– Asking: $399,900

98 BRIGHT STREET 2L, JERSEY CITY
(UNDER CONTRACT)

– Charming 665 SF 1 Bedroom, 1 Bath Condo
– Located Around the Corner from Van Vorst Park
– Renovated Kitchen, 10’5 x 9’9 Private Terrace
– Crown Molding, Custom Closets
– Asking: $335,000

REAL ESTATE AND COMMUNITY NEWS

HOBOKENNJ.ORG: PUBLIC INVITED TO NEUMANN LEATHERS REDEVELOPMENT PLAN COMMUNITY WORKSHOP
“Over the next several months, Maser Consulting will be working with the City of Hoboken to prepare a redevelopment plan for an area in Hoboken commonly referred to as the Neumann Leathers site. This area includes the properties that are in southwest Hoboken along Willow Avenue between Observer Highway and Newark…”

WSJ.COM HOW TREES CAN BOOST A HOME’S SALE PRICE
“Michael Vargas, a New York City-based appraiser, says trees are generally a premium in urban environments. In New York City, “most of the prime streets that are tree-lined get a 10% to 15% premium in value over similar streets with less tree architecture,” he says. “It’s a way to make it seem like you’re not in the city.”…

NY.CURBED.COM: MAPPING JERSEY CITY’S TOWER TASTIC RESIDENTIAL BUILDING BOOM
“In five years, the Jersey City skyline will look very different than it does today. More than 20 residential buildings are currently under construction in the 15-square mile city, and most of them are not on the waterfront like they have been in the past, thanks to new tax abatement rules to spur greater investment farther inland. Major real estate developers that traditionally focused on Manhattan and Brooklyn have set their sights on the other side of the Holland Tunnel; everyone from Toll Brothers to the Kushners (the architect and both developers in fighting family) are eager to break ground in JC and take advantage of the strong rental market…”

HUDSONREPORTER HOBOKEN: CITY UNVEILS VISION FOR WASHINGTON ST REDESIGN

“The city of Hoboken on Monday unveiled its first vision for the upcoming Washington Street redesign project at a community meeting, briefing residents on a plan that would seek to make biking and crossing streets safer, parking easier, and strolling more pleasant. The project, which could begin as early as the fall if Mayor Dawn Zimmer can convince the City Council to cover the cost by bonding, would overhaul nearly the entire stretch of the city’s 15-block-long main street.”…

NJ.COM: $194 MILLION TRUMP TOWER RISING IN DOWNTOWN JERSEY CITY
“The tower will feature 447 luxury apartments, 144 parking spaces and 11,000 square feet of retail. A 3,000-square-foot rooftop deck, a “lavishly appointed” spa and a cyber café are among the planned amenities.”…

HUDSONREPORTER HOBOKEN: ZIMMER AND LOCAL BUSINESS LEADERS TALK ABOUT DEVELOPMENT
“Before an audience that included several builders with lucrative construction deals currently in the works, Zimmer reiterated her stance that approval of any new projects must be contingent on two things: first, their ability to help solve Hoboken’s flooding problem and their commitment to green infrastructure, and, second, their participation in a full community process that…”

HOBOKENNJ.ORG: PUBLIC INVITED TO TWO MEETINGS FOR PROPOSED PARK SPACE AT PINO SITE PROPERTY
“The City of Hoboken is considering a proposal from Bijou Properties that would provide 1 acre of property for park space and a public gymnasium in Western Hoboken as part of an agreement to continue the redevelopment of the Monroe Center site and the Pino property. The site is near the corner…”

CITY OF HOBOKEN: NEW GARBAGE & RECYCLING COLLECTION SCHEDULE
The new schedule shifts a recycling day from Tuesday to Monday, more evenly spreading out recycling collection. The schedule eliminates the Monday garbage pickup, which was previously the lowest volume day since it immediately followed garbage pickup on Sunday. Collection of electronic waste such as computers and televisions has been expanded to Mondays and Thursdays. A flyer with the updated schedule is available for downloading and printing from the Hoboken City website.

HALSTEAD PROPERTY NJ – NEW OFFICE LOCATION



OUR OFFICE HAS MOVED TO
200 WASHINGTON STREET IN HOBOKEN NJ

After five years of success at 79 Hudson Street, Halstead Property has taken it’s Hoboken operations to a new level to a space more than 3 times as large, ideally located on the bustling corner of 2nd and Washington Street. The space has full two floors and over 3800 SF allowing for an inviting storefront level and a more private second floor area. The space was completely renovated as a state of the art real estate office featuring room for 50 agents (twice as many desks as the former location) and a storefront consisting of the Inman News’ Most Innovative Brokerage Tool of 2013 – our Touch Screen Real Estate Search Technology, LED Window Displays, publicly available WiFi, and much more.

HOBOKEN AND JERSEY CITY REAL ESTATE MARKET REPORT


2H2013 MARKET RECAP


Hoboken and Downtown Jersey City prices have continued their upward trajectory and have now exceeded previous rec-ord highs achieved before the financial collapse of late 2008. After several years of relatively stagnant pricing, 2013 brought a surge in condo pricing of 10-11% over prices seen just a year before. In 2013, the average price for a Hoboken condo was $572,000, up 15% from 2010 and in Downtown Jersey City, the average condo price in 2013 was $541,000, up 22% from the low in 2009. Driven by a recovering economy, low interest rates and a general consensus that prices are on the rise, buyers often found themselves competing for choice properties and paying above the seller’s asking price.

Multiple offer situations were also commonplace in the townhome market, driving pricing up and leaving many buyers without a property at the end of the year. 2013 average townhome pricing in Hoboken was $1,232,000, up 16% from 2009 lows and Downtown Jersey City townhome prices increased a dramatic 41% from 2009 to 2013.

Looking ahead to 2014, we anticipate property values will continue to rise due to solid demand combined with a lack of inventory and the absence of new condo development coming online in the near future. Considering the recent in-crease in property values, we also expect to see an increased volume of activity in 2014 now that homeowners that pur-chased in 2005-2007 are regaining equity in their properties.

Thanks for reading our newsletter!

Please don’t hesitate to contact us if you have any questions, comments or concerns.

Peter Cossio Clare Cossio Lindsey Brown Matt Brown

Hudson Realty Group at Halstead Property

hudsonrealtygroup@halstead.com


201.478.6709


DISCLAIMER: ©2014 by Hudson Realty Group at Halstead Property New Jersey LLC. All Rights Reserved. This mail is for the named addressees only. If you are not the intended recipient, please delete it from your files. All information is from sources deemed reliable but is subject to errors, omissions, change of price, prior sale or withdrawal without notice. No representation is made as to accuracy of any description. All measurements and square footage are approximate and all information should be confirmed by customer. Halstead Property and Hudson Realty Group do not represent the sale of the new construction developments highlighted in this newsletter. All rights to content, photographs and graphics reserved to Broker. This information may not be copied, commercially used or distributed without Halstead Property’s prior consent.

Hudson Realty Group at Halstead Property NJ LLC

200 Washington St Hoboken NJ | 201.380.3871

Hudson Realty Group is a closely integrated team with exceptional knowledge of the Hoboken real estate and Jersey City real estate markets. Our expertise includes: condosbrownstoneslofts and new developments